Clips from the interview

Correlation between problems and opportunities
“Problems in finance and treasury management and opportunities of blockchain have correlation. This has to do with exchanging value.”

Blockchain and insurance
“For twenty years, the Internet allowed us to copy information. We first looked at internal applications, such as reinsurance amongs us. Then we shared with others in the industry, which created B3I.”

Alternative to the financial sector
“We have to admit in finance that we focus too much on HNWI and didn’t help the underprivileged when they needed itWe have to admit in finance that we focus too much on HNWI and didn’t help the underprivileged when they needed it. We’re not the main party to go to when bringing banking and insurance to the 90 percent that don’t have it. Blockchain can help gain trust without a third party, embedded trust. Two things come together: People have questions about the banking institution in the middle (oligopoly), and technology shows there is an alternative. We shouldn’t be defensive of that but embrace the technology and the enabler to access undiscovered markets.. We’re not the main party to go to when bringing banking and insurance to the 90 percent that don’t have it. Blockchain can help gain trust without a third party. Embedded trust. Two things come together: People have questions about the banking institution in the middle (oligopoly), technology shows there is an alternative. We shouldn’t be defensive of that but embrace the technology and the enabler to access undiscovered markets.”

Insurance and IoT
“Robots and the Internet of Things (IoT) surround blockchain. The ledger obtains its information from somewhere. Robots can help. IoT is important in insurance to capture data. The uniqueness of the ledger can be central, as well as self-regulating technology. This is not science fiction or a machine taking over. The blockchain needs information from the real world.”

Rolling out blockchain
“We take a more agile approach to blockchain. The plan is iterative (scrums). More use-case driven than other technology roll outs. There is no holy grail, because everything changes so fast. We are continuously sharing in the market and have an open dialog to make sure we’re on focus and can evolve.”

Innovation, pirate-style
“The blockchain crowd is a little bit different. I love going to hackathons. A mixed group of people are there. Instead of going skiing, they program. It’s a pirate atmosphere, a new vibe. People have different drivers, such as changing the world or a scientific approach. It’s an interesting public-private partnership. A different mix of generations. 20 year olds, but also baby-boomers who revive their career rather than thinking about the last third of their working life. It’s a whole new start for them. The smart minds of young people together with expertise, that’s great. I find it OK to live with a pirate image, it’s for a good cause.”

A tipping point for trust
“We’re at the crossroads of many interesting things. We haven’t figured out how to deal with inequality. The geopolitical situation is also interesting. We realize we have side-effects of our economic development, such as energy, etc. I do believe we’re at an interesting tipping point. Technology goes to trust. It’s obvious why trust is important. The new development is that with good use of technology it’s a great enabler. It’s authentic. This matters in identity, loans, property. In developing countries they are lagging in these regards. Trust is key for the financial industry. It’s going through a breakthrough with new technology.”

Is blockchain taking away future jobs?
“It shouldn’t be seen as threatening. My son asked me one day what the blockchain was. When I explained it, he asked ‘Are you taking away my future job?’ I had to pause and answered ‘No, we’re actually making it more interesting.’ We always have to say that as managers, but if you think it through it’s actually true. Offshore work, robots etc, will they take away our work? It’s not threatening. We must think differently, but if we do things smarter we can reinvent how the next generation work to make best use of their talents.”

A great step for mankind
“Professionals often walk a thin line between being visionary and being naïve. We have to be careful not to make naïve assumptions. But we’re living in an interesting window of opportunity. One little step can be a great step for mankind.”

The Blockchain and Us

Some think the blockchain is far from mainstream adoption, others believe it will change the world before we know it. True is: The history of the blockchain has just begun, and its final outcome lies in the future. Filmmaker Manuel Stagars documents the global blockchain ecosystem in conversations with blockchain experts, scientists, entrepreneurs, corporate decision makers, politicians, investors, and others.

Other Film Projects

FinTech Made in Switzerland (2016)

The first documentary film about Swiss FinTech. Swiss bankers, politicians, investors and FinTech startups describe how the traditional bankers’ nation is coming to terms with technological change and plans to catch up in the digital future.

Digital Transformation (2017/8)

A portrait of our journey into the digital transformation of nations, businesses and societies. Conversations with leading scientists, entrepreneurs, corporate decision makers, politicians, artists and others take place in Europe, the United States, and Asia.